LIC’s NEW ENDOWMENT PLUS
What is NEW ENDOWMENT PLUS Plan of LIC OF India?
This is a regular premium Unit Linked Assurance Plan, which offers investment-cum- insurance. Policyholder can choose the amount of premium one desires to pay, depending on premium paid policyholder will get the equivalent level of risk cover.
DATE OF COMMENCEMENT OF RISK:
For age at entry less than 8 years LBD : One day before completion of 2 years from DOC or one day before Policy Anniversary after completion of age of 8 years LBD, whichever is earlier. For age at entry 8 years LBD or more: Risk will commence immediately.
DEATH BENEFIT:
Before Date of Commencement of Risk: Fund Value
After Date of Commencement of Risk : Basic SA or Fund Value whichever is higher.
Basic SA = 10 x annualized Premium or 105% of total premiums paid whichever is higher.
MATURITY BENEFIT: Fund Value Investment Fund Options:
Bond Fund, Secured Fund, Balanced Fund and Growth Fund
Suppose your age is 35 years ,investing Rs 20000 yearly in Growth Fund.
Your Risk cover would be Rs 200000 in between 20years, and accidental Risk Cover would be Rs 400000.
Maturity Ammount would be Marketable ,that is Fund Value Rs 806625
